The new law, effective for the current financial year, introduces a significant additional reporting obligation for intercompany transactions and requires transfer pricing adjustments to be made to the median.The new rules require taxpayers to significantly alter compliance processes.Since the bill affects the current financial year, companies should timely begin to prepare and implement adjustments.Executive summaryOn 19 July 2022, the Hungarian Parliament passed a bill that sets out important changes to the transfer pricing (TP) rules. Specifically the bill:Introduces a significant additional reporting obligation regarding intercompany transactions as part of the corporate income tax (CIT) return.Requires TP adjustments to be made...